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Objectives of cost Accounting


  1. It enables the management to ascertain the unit cost of product, service, job or department, and also to estimate the profit or loss of each operation.
  2. To guide the management on future expansion programmes and proposed capital projects.
  3. To provide necessary guidance to fix the accurate selling price of the product.
  4. To co-ordinate cost reduction programme along with the different departmental heads.
  5. To assist the management in preparing Budgets and necessary steps which are to be taken for the implementation of budgeting control.
  6. To collect and supply relevant data to the management for taking important financial decisions.
  7. To interpret and present data to the management for planning, evaluation of performance and control.
  8. To provide specialized services of cost audit.
  9. To assist the management in the future production policies.